Price for Flour and Meal; of Potatoes in Panama - 2023

Price for Flour and Meal; of Potatoes in Panama (CIF) - 2022

In 2022, the average import price for flour and meal; of potatoeses amounted to $2,098 per ton, which is down by -20.5% against the previous year. Over the period under review, the import price, however, continues to indicate moderate growth. The pace of growth was the most pronounced in 2017 when the average import price increased by 40% against the previous year. Over the period under review, average import prices attained the peak figure at $3,187 per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Free Zones ($3,019 per ton), while the price for the United States amounted to $2,033 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+22.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Flour and Meal; of Potatoes in Panama (FOB) - 2022

The average export price for flour and meal; of potatoeses stood at $1,297 per ton in 2022, shrinking by -41.9% against the previous year. Over the period under review, the export price saw a slight shrinkage. The pace of growth was the most pronounced in 2019 an increase of 190%. Over the period under review, the average export prices reached the maximum at $3,166 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Costa Rica.

From 2012 to 2022, the rate of growth in terms of prices for Costa Rica amounted to -9.1% per year.

Imports of Flour and Meal; of Potatoes in Panama

In 2022, supplies from abroad of flour and meal; of potatoeses was finally on the rise to reach 7.8 tons after two years of decline. Over the period under review, imports, however, continue to indicate a deep downturn.

In value terms, flour and meal; of potatoes imports soared to $16K in 2022. In general, imports, however, recorded a significant contraction.

Import of Flour and Meal; of Potatoes in Panama (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	14.3	8.2	2.3	14.8	1.2%
Free Zones	0.7	1.0	0.5	1.6	31.7%
Italy	3.3	2.1	1.3	N/A	-37.2%
Netherlands	6.1	11.4	6.4	N/A	2.4%
Brazil	4.4	0.6	0.2	N/A	-78.7%
Others	3.3	2.0	0.6	N/A	-57.4%
Total	32.1	25.2	11.3	16.4	-20.1%

Top Suppliers of Flour and Meal; of Potatoes to Panama in 2022:

United States (7.3 tons)
Free Zones (0.5 tons)

Exports of Flour and Meal; of Potatoes in Panama

In 2022, approx. 802 kg of flour and meal; of potatoeses were exported from Panama; picking up by 70% against 2021 figures. In general, exports showed moderate growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, flour and meal; of potatoes exports fell to $1K in 2022. The total export value increased at an average annual rate of +1.1% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 2.2%.